Kibo Ventures launches new SME fund in collaboration with Oliver Wyman

Cuatrecasas has advised venture capital firm Kibo Ventures on the launch of “Nzyme,” a private equity fund set up to invest up to €200 million in small and medium-sized enterprises (SMEs) based in Spain.

The fund was officially registered with the Spanish Securities and Exchange Commission (CNMV) this April. It will focus its activity on investing in SMEs with outstanding development potential in which the implementation of new technologies may represent a turning point in boosting their productivity and growth. By doing so, they will have the opportunity to consolidate and expand internationally with the support of the fund’s advisors. These advisors will also be responsible for identifying areas in which to implement environmental, social and governance criteria to improve their long-term business and positively influence their impact on society.

The fund will be joined by: Fernando Díaz Solís, with over 20 years of experience in private equity; private equity specialists Vicente Vázquez Bouza and José Manuel Gasalla, both partners at Oliver Wyman; and Kibo Ventures partner Juan López Santamaría, with over 15 years of experience in investment and technology. They will be supported by the founders of Kibo Ventures, Aquilino Peña and Javier Torremocha, and the president of Oliver Wyman in Spain and Portugal, Pablo Campos.

Commenting on the closing of the deal, Aquilino Peña said, “We are proud to launch ‘Nzyme’ and to have Oliver Wyman as a strategic partner in this initiative, as they will allow us to select the best opportunities in the market and identify levers to maximize the value we can bring to our investors and the companies in which we invest, as well as to define actionable and measurable objectives to make them more sustainable.”

Pablo Campos said, “Oliver Wyman is committed to supporting similar funds as part of a global initiative with an initial focus on major European markets. The fund management team is broadly complementary and, supported by our two large organizations, will be able to transform traditional SMEs into international companies with more efficient business models through technology. In addition, this initiative will help attract international investment to Spain.”

The Cuatrecasas team advising on the process was led by Fund Formation partner Jorge Canta, who was supported by fund formation lawyers Ana Serrano and Juan Manuel Navajas.